GOP Sources: McCaul May Get In U.S. Senate Race

U.S. Rep. Michael McCaul, R-Austin, is quietly exploring a run for the U.S. Senate seat now held by Kay Bailey Hutchison, Republican sources told The Texas Tribune on Tuesday. McCaul is telling potential supporters that he's prepared to spend $4 million to $6 million of his own money.

In a statement emailed to the Tribune, McCaul didn’t say he was getting in the race but also didn’t deny that he was. "My goal remains to ensure that the most qualified person represents Texas in the United States Senate," the statement said.

McCaul's current federal campaign balance, at $143,256, isn't impressive, especially since he also has outstanding debts of $209,384, according to the Federal Election Commission. But he's also the richest member of Congress, according to a recent report from Roll Call, and could easily finance his own campaign if he so desired.

McCaul, 49, was first elected in 2004 to an eight-county House district that stretches from Austin to Houston.